Contact Information

RV Park/Campground Details

  • Price: $995,000
  • Purchase Method: Cash
  • Cap Rate: 13.0%
  • Property ID: 1030874
  • Posted on Feb 7, 2019

Property Description

50+ full hook up sites nestled on 8+ acres in the Blue Ridge mountains in western North Carolina. This campground is heavily wooded with many spacious campsites. Many sites recently upgraded with new electrical services and 20/30/50 AMP pedestals. We have been investing heavily in upgrading the infrastructure over the past several years to accommodate bigger rigs with 50 amp services. All sites have gravel RV parking and concrete patios. There is a small office/store (10x20) with a covered porch, the coin laundry is 12x26 with a small porch with 4 coin dryers and 5 coin washers, there is a newly remodeled bathouse with 2 full bathrooms in it. This campground has a charming rustic feel throughout the property. There is room for expansion of 10-20 sites. Property was just surveyed and we have a master plan designed to help with future potential uses. Adding cabins would be a great revenue generator. Park has been open year-round since 2016 with steady Gross and Net increases. There is a lot of upside and room for growth in size and revenue. Priced at 13 CAP.

Location

22 miles from of Asheville, NC

Amenities

  • Laundromat
  • Club House
  • Storage
  • Manager Office
  • Bathhouse
  • Store
  • Wifi
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Park Information

Number of RV Lots: 57
Year Built: 1970
Average RV Lot Rent: $500
Size: 8.0 acre(s)

Financial Information (Actual)

Gross Income $211,000
Operating Expense $81,000
Net Operating Income $130,000
Expense Ratio 38.4 %
Debt Info

Utility Information

Water: Well
Sewer: Septic